Namjilpagma

Namjilpagma D. is just 23 years old and lives by herself in Arhangai province, one of the central provinces of Mongolia. She has a small retail business in clothing. Since 2008, she has been selling clothes for women and men at Terh shopping mall, one of the large shopping malls in the town. She rents a small stall at the shopping mall and sells various women's and men's clothes that she brings from Ereen China.

Ereen is a Chinese border town, from which many cheap Chinese products are imported. She frequently travels to Ereen and purchases cheap yet trendy clothes especially for young people in the town. Since its start, she has done quite well and her business capital has increased from 800,000 Mongolian tugriks to 1,200,000 tugriks (about US $560 to $850). Her future plan for her business includes adding a greater variety of clothes for young people. She requests a loan to purchase more clothes from Ereen, China.

Additional Information

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.